NBC, TURNER STILL TALKING, NOT WALKING

NBC President Robert Wright told the board of parent company
GE yesterday that the network is continuing to explore a merger
with Turner Broadcasting, "but GE appears no closer than ever to
a sale of the television network." Wright told the board there
are "synergies" between the two broadcast giants, particularly in
the news area. The meeting only "briefly" touched on the status
of the Turner situation (BLOOMBERG BUSINESS NEWS/NEW YORK POST,
12/19).
GE AUTHORIZES STOCK BUYBACK: General Electric's board
announced that it would buy back up to $5B of its own shares
after increasing its quarterly stock dividend by 14%. The
dividend had been expected, as GE has increased its dividend
every year since 1975 (Diana Henriques, N.Y. TIMES, 12/19). GE
Chair John Welch said the "strong outlook" for the company's
holdings as well as a high level of "cash generation" were behind
the move (William Carley, WALL STREET JOURNAL, 12/19).